WSJ Forecasting Survey: 25% of Jobs Lost Are Not Coming Back

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The latest Wall Street Journal's Forecasting Survey is out, and the participating economists largely share the White House's expectations for job growth in 2010.  They see a very small drop in unemployment numbers--predicting, on average, the jobless rate to be at 9.4% by the end of the year.  They also expect that a lot of the jobs lost during this recession aren't coming back.  On average, the economists expect 25% of the jobs lost will need to be made up in new or different sectors. 

The economists also expect GDP to grow at about 3% for the rest of the year--and don't see the 5.7% growth we saw last quarter continuing into 2010.  Here's a look at the GDP trend as they see it (more interactive charts from the Journal are available here):

Economics Editor David Wessel joined the Journal's News Hub team to discuss the jobs data:

Read more about the survey here.


Posted 02-12-2010 11:37 AM by Graham Griffith
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